Rivian reported automobile manufacturing and supply numbers for the primary quarter of 2024, revealing extra year-over-year development.
Throughout Q1 2023, the corporate produced 13,980 all-electric automobiles at its manufacturing facility in Regular, Illinois, 49% greater than a 12 months in the past. Rivian reported 13,588 deliveries, too, up 71% year-over-year.
Rivian expects a flat 12 months
Up to now, Rivian was constantly rising its EV manufacturing and deliveries (year-over-year). Nonetheless, the corporate set a steering for the annual manufacturing of 57,000 in 2024, which might be the identical because the outcome achieved in 2023.
These numbers mark the most effective first quarter ever recorded. Nonetheless, sequentially, there isn’t a development. Car deliveries in Q1 had been decrease than in Q3 and This fall 2023. Car manufacturing was decrease than previously three quarters (Q2-This fall 2023).
Rivian didn’t disclose the numbers for particular person fashions, so these are the overall values for its three BEVs: the R1T pickup, R1S SUV and EDV business vans.
Rivian Q1’2024 outcomes (YOY change):
Complete manufacturing: 13,980 (up 49%) Complete deliveries: 13,588 (up 71%)
For reference, in 2023, Rivian produced over 57,000 electrical automobiles and delivered greater than 50,000. In each instances, the outcomes greater than doubled in comparison with 2022.
Rivian Q1-This fall’2023 outcomes (YOY change):
Complete manufacturing: 57,232 (up 135%) Complete deliveries: 50,122 (up 147%)
2024 shall be totally different. Rivian introduced steering for the annual manufacturing of 57,000 complete automobiles and reaffirmed it in the latest assertion. It signifies that manufacturing (and probably gross sales) ought to be principally flat in comparison with 2023.
With strong year-over-year development in Q1, it’d take year-over-year decreases in different quarters to finish up flat for the 12 months. We’ll see if that occurs, or if Rivian pulls out a better-than-forecasted 2024.
Cumulatively, Rivian has produced over 96,500 electrical automobiles and delivered virtually 85,000. The distinction between the 2 numbers is roughly 11,600 or lower than one quarter’s value of gross sales. A lot of the manufacturing up to now was for the U.S. market (deliveries in Canada began in November 2022).